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Found 21 results

  1. https://www.ato.gov.au/Media-centre/Media-releases/ATO-watching-for-foreign-income-this-Tax-Time/ If are living in Australia, can't access the temporary resident tax exemptions, have UK source income and haven't been declaring it in Australia - be warned! Best regards.
  2. The Courier Mail is reporting that the Australian Tax Office (ATO) will be analyzing the records of up to twenty million migrants (past and present) to ensure they are not ripping off Australians and are paying their fare share of tax. The financial and personal details of visa holders who have come and gone from Australia will be audited over the next three years to enforce income tax and superannuation requirements. The massive blowtorch, which includes migration agents who help get migrants to Australia, also aims to identify potential fraudsters rorting foreign investment rules. While the ATO has put migrants in the crosshairs previously, it has not been at this mammoth scale. It comes as the ATO is launching a targeted and well-resourced crackdown on the black economy, which benefits some workers but duds Australia of revenue. The latest information sweep is extensive and will include the address history visa applicants and their sponsors; all their arrivals and departures in Australia and details of their education provider if they are on a student visa. A spokeswoman for Revenue Minister Kelly O’Dwyer said the operation could recoup cash for the taxpayer and ensure eligible migrants receives their superannuation before they left the country. “The ATO has a responsibility to protect the public revenue and to maintain community confidence in the integrity of the tax system,’’ she said. “The data-matching program does this by detecting, dealing with and deterring those that are not meeting their obligations. “It also enables enforcement activity and recovery of taxation revenue – without undertaking this data matching program and subsequent compliance activity there are no assurances that a wider risk to revenue does not exist. “The data also supports the ATO to administer aspects of Australia’s foreign investment laws and reunite seasonal workers with their superannuation entitlements under the Labour Mobility Assistance Program.” The ATO said, “It is estimated that records of 20 million individuals will be obtained over the course of the three year period. “These records will be electronically matched with ATO data holdings to identify noncompliance with obligations under taxation and superannuation laws. “The objectives of this data matching program are to maintain currency of our knowledge of taxation and superannuation risks within the visa holders, visa sponsors and migration agents populations (and) test the accuracy and strengths of our existing risk detection models ... and identify areas for improvement in our models, treatment systems and practices.” Source: https://aumigforu.ms/2D1sKkm
  3. Hi all, Having established in recent threads that depreciation reports are a great way to minimise tax on rental income, I'm really struggling to find a company in the UK that is aware of the ATO's requirements for such a survey, or is even familiar with the idea of depreciation reports for domestic properties. I've tried e-mailing two different guys at Davis Langdon, which is the only UK company I could find who seem to offer the service, but I've not had a reply from either of them. So: does anyone here have a UK rental property for which they've been able to get a depreciation report done to ATO standards, for use in their Aussie tax return? TIA Tarby
  4. CecilSeeley

    Paying Tax on 457

    Here on a 457 and stated income on Visa acceptance was 85k. Due to downturn in mining actual income will be less, and ongoing will be lower. My company will reduce the amount it pays me due to downturn. I am happy enough with that, as it make sense, and my partner is working anyway. Does my company have to admit this change in income to Immigration? Will they rescind the 457 because of the change if they do? Or should I just pay the reduced tax amount and see what happens? In other words, do ATO speak to immigration? Thanks for any help
  5. Hi everyone, I have recently been granted Temporary Permanent Residency after applying for a spouse visa. I am now wondering if anyone has any information on how to inform the ATO of this....so that I don't have to pay the high tax rate that non-residents do (approx 28%) on my wages. Is it automatic? Thanks in advance for any information
  6. Hi all, My wife paid into several pensions in the UK, which we have recently transferred to an Aussie QROPS. The age at which one can normally draw on an Australian super fund without any tax implications is 60, but my wife's date of birth (11/57) means that she reaches what the ATO refer to as her "age of preservation" this year, when she will be 55 (it is later for people born from 1960 onwards). Given her DoB, she is able to access her super from age 55 and will not have to pay any tax in Australia as long as the total withdrawn doesn't exceed 160K AUD before the age of 60. However, I know that super fund providers are legally bound to report withdrawals to HMRC for a period of 10 years following a QROPS transfer, and I'm aware of the possibility of HMRC charging tax on withdrawals from Aussie super funds if the money came from the UK. Moving forward a couple of months... my wife will reach her age of preservation and she will have tax-free access to her super as far as the ATO is concerned. If she were to start drawing on her super - which is comprised purely of funds that came over from the UK in 2012 - might she be liable for tax to HMRC? (BTW: I've already asked this question to HMRC. They said that can't comment on "an individual's circumstances"!) TIA Tarby
  7. Tarby777

    The delightful ATO

    Hi folks, If there was no ATO, my rental property would cover its costs There isn't much interest on the mortgage and I don't have too many expenses other than the rental agent's commission, so most of the income from the property is treated as taxable by the ATO. The result of this is that I end up with the property negatively geared, but only because of them. I know that if the property was negatively geared before considering tax, there would be things that I could claim at tax time. How do I stand, given that it's only negatively geared because of the tax that I have to pay on it? TIA Tarby
  8. G'day folks, With the 0% income tax threshold rising to $18200, I'm keen for the ATO to see the rental income from our UK property as my wife's rather than ours (she doesn't work), and I'm wondering exactly what I'll need to do... get the rent paid into an account that is just in her name? Switch the title deeds for the house in the UK over to her? Get her name on the statements from the estate agent? TIA Tarby
  9. Hiya I am looking for some help in getting my TFN from the ATO and was wondering if anyone has applied for a TFN recently? I have registered with the ATO website and when I go to apply for a TFN you need to select an option under the "ATO Publication code"? I typed in the word "temp" and this option came up - NAT No - 8592-10.2009WORKING TEMPORARILY IN AUSTRALIA - CLAIM YOUR SUPERANNUATION AFTER YOU LEAVE INFO - http://individuals.iorder.com.au/DownloadFile.aspx?fileName=8592-10.2009.pdf&fromPage=Search.aspx&prodID=8592-10.2009 I am not sure if this is the option I select for getting a TFN? I am going over on a 457 visa with my family. Mega confused.com?????? Help greatly appreciated..thank you
  10. boganbear

    PAYG tax on savings interest

    I've just received a strange letter from the ATO and even phoned them and am none the wiser. It was like talking to a robot. Basically, I have to pay tax on my savings in advance, paying every quarter about $250 at a rate of 32%. I don't earn megabucks and neither do I have millions in the bank. It's just my savings for a house deposit. They won't let me sort it out and pay off any money if I owe them any when I do next year's tax return. No one at work has heard of this so has anyone here received a similar letter or can explain it in plain English!!!
  11. We've been living in Australia for 5 plus years. We have a small endowment policy that's maturing soon in the UK that has a massive shortfall that was supposed to pay some of the mortgage off. If it gets paid into our UK bank account, will it get taxed by the ATO? Does it have to be declared? Cheers Nick
  12. This is my 3rd tax return since being here. I am on a 457, I have a TFN, earn around $80k/yr, but also get a bonus between $20-40k a year (which happens just before end of the financial yr). - All three I have done through H&R block through the online site. - Last year I tried using tax calculator but wanted H&R block to double check my figures. - First tax return 2008 - got around 2k back - I imagine because I only worked for 1/3 of the year. 2009 - owed around 4k back to ATO. 2010 - apparently owe 7k back to ATO. Im a bit confused, so I will likely head down to HR Block for a better assesment but does anyone have any ideas why I haev to pay ATO? PHI looks to be too expensive for someone on a 457 (compared to the savings made with medicare levvy) Reason I ask, is I sit next to a colleague on similar pay, who is also on 457, and is getting money back from ATO. I was not expecting a 7k bill this month... Would really appreciate any advice, let me know if you need more specifics.
  13. Six it

    ATO number has arrived

    just a bit of info.. for anyone who is wondering how long it takes to get your ATO number I am in Perth.. dont know if that makes any difference.. but it has taken a week to get my ATO number.. so not long at all.. an no where near the 1 month i was quoted when i applied
  14. These might be of interest to 457 visaholders: Extended period of time working in Australia on a 457 visa: Private Ruling Number 1011459211492 Application for permanent residency while on a 457 visa: Private Ruling Number 90415 Please remember the caveat that a Private Ruling is specific to the taxpayer that applied for it. However, they provide a good indication of ATO thinking on the relevant subject. Best regards.
  15. Hello My husband and I arrived in Sydney in January and have both started our new jobs. We are very confused about LAFHA so any advice is appreciated. I worked in London but liked the idea of moving abroad. I managed to secure a new job with the same company in Sydney and was advised that I could get the LAFHA allowance. However, now that I am here I have been told that I must obtain a Private Ruling from the Australia Tax Office, as my Company has provided LAFHA to another employee only to find out that they were not eligible. So now I need to apply for a private Ruling so that we can be certain that I am eligible. I am on a 457 visa and plan to move back to the UK at the end of the 4 years. However, I am on a permanent contact with the Australian company. I wanted to move to Australia, but I would only have moved if I had been offered a job with my Company. Does this qualify as relocation? We did not own a house in the UK so ended our tenancy when we moved here. However, most of our possessions are being stored at my parent's house for when we return. A second question - my husband is on my 457 visa and has secured a job in Sydney. Would he qualify for LAFHA? (He was offered the job while we were in the UK) Also, has anyone applied for a private ruling and how does this work? Many thanks for your help! Jo
  16. The Australian Taxation Office (Tax Office) will request and collect names and addresses and other details of entities who have applied for Visa Subclasses 417, 457, 462, 570, 571, 572, 573, 574, 575, 576, 580 between the period 1/7/2008 and 30/6/2009 inclusive from the following source: Department of Immigration and Citizenship It is called: DIAC/ATO Student and Temporary Working Visa Data Matching Project http://www.ag.gov.au/portal/govgazonline.nsf/C0B47A1DBD927C7DCA25774B0004C112/$file/S%2098.pdf As I understand, this is providing data from DIAC to ATO. Does it work the other way around? Not that I have anything to hide, but am woried about my privacy. I have heard roumors that DIAC has access to tax data. Is it true?
  17. Guest

    Problem with ATO! while on VHV

    Hi all, i'm not sure if any of you guys had the same problem with the Australian Taxation Office while on WHV. I am living in OZ on my second WHV at the moment but when I went to do that 3 months seasonal work in a farm in fact it was the last week of the ending financial year 2008/2009 which I started my job. I was given a p60 letter from the farm for that week to make a tax return of $160 which I was quite happy to do that but unfortunately the ATO send me a letter demanding for extra $205. I am totally confused what to do. At the bottom of the letter it says, other information relevant to your assessment. Your return indicates that you are a non-resident of Australia for tax purposes. As a result we have deemed you a non-resident for income tax purposes. No tax free threshold is available to non residents. payment for this amount was required by.23 November 09. A friend of mine thinks that I should review my TFN online and answer the question that says whether iam a australian resident for tax purposes or not. He reckons i have to say Yes to that But i can't even get to the bit online. By the way I completed the rest of that 12 weeks of seasonal work but iam too scared to make another claim for this financial ending year. I need some help pleaseeeeee I am so nervous that the IMMI will notice this am not cleared with ATO!!!!! any sorts of advice appreciated. thnks Leed
  18. :biggrin:Hi everyone, enjoyed reading lots of good info from you all but here's a tricky one! I think? I have a 175 permenent visa and will hopefully be coming to Oz by the end of this year? My house is on the market but I would prefer to rent in Oz and wait for a better exchange rate before exchanging any dosh from my house in the UK. What do I have to do to make sure it is not sniffed at for capital gains tax and is it true that I will be taxed on any gain by waiting for a better exchange rate ie if I become a permenent resident in Oz with exchange rate of 1.7 but wait to transfer money at lets say 2.4 (1 or 2 yrs from now?), the ATO take the difference gained and tax it, if so by how much? Hope a tax guru can help with this one as I may have to post pone our arrival for some time? Nightmare :no:
  19. I have been off work sick today and could not believe my ears when I got a call (3) from the "australian Tax Office" stating I had a "grant" eligible for $4000, of course being english and understandably dubious I asked what it concerned. The guy (who frankly had such a poor command of the English language that defied stupidity) explained (albeit moronically) that he was from the ATO (like really!) and that I had a grant for $4000 (oooooooh! no s**t sherlock!), and I should go to a local aussie post office with (wait for it) $200 and my drivers license and passport (photocopied) and I would be given a postal number if I called him ..... frankly the storey becomes so weird at this point, that I felt the need to return bull***t and I claimed to be an Australian Federal Cop working in fraud (strangely) working in the ATO (WTF) yet he still felt the need to claim credibility...... well after much laughing (mainly at him by me) he conceded the deceit by ..... wait for it....poo pooing my credibility and feeling entirely childish he said .....prove it then (NAAAAAAAAH) ..the following silence was enough to state my victory over stupidity !!! long live the Poms!!!!! Hazzzzzzzar!
  20. Guest

    DIAC and the ATO

    Hi everyone, Does anyone know what information is communicated between the ATO and DIAC? My partner and I have lodged a de facto visa application (I am the sponsor) and he hasn't done his tax returns in five years. I'm wondering if this will be a problem for our application and whether they will bring any of this up in the interview or ask us for more information. I should have mentioned that my partner has been in Australia for the past 8 years on various visas and hasn't sorted out his tax.. just worried that DIAC will wonder why he hasn't sorted it. THank you for your help. Mayday
  21. Earlier someone asked about links to ATO pages that provide the basic information needed to conisder your tax position. Here you go: Examples of residents and non-residents for tax purposes We have outlined a number of scenarios that may help you to determine whether you are a resident or a non-resident for income tax purposes Examples of residents and non-residents General treatment of foreign pensions and annuities[/url] http://www.ato.gov.au/individuals/content.asp?doc=/content/34780.htm Tax treatment of transfers from foreign super funds Tax treatment of transfers from foreign super funds and specific to UK Pensions some addtional info: Tax treatment of transfers from foreign super funds Hope these help. Liam